How does Dow Saudi position itself as an innovative player in the material science sector, and what role does Saudi Arabia play within its portfolio?
On April 1, 2019, Dow completed the spin off from Dow-DuPont, positioning itself as a leading material science company with the ambition to be the most innovative, customer-centric, inclusive, and sustainable materials science company in the world. Dow's focus on sustainable growth at a global level transcends to the regional and local level. In Saudi Arabia, we have introduced products that have been launched in the kingdom for the first time through Sadara Chemical Company, our joint venture with Saudi Aramco. Dow's Middle East Innovation Center is located in Thuwal, enabling our Company to provide application development and technical services focused on oil and gas, sustainable coating and construction products, and industrial chemicals for a variety of applications relevant to our customers in Saudi Arabia and the broader region.
The most invaluable investment in any country is in human capital, which we do by giving many young Saudis the opportunity to develop their skill-set and careers, such that they can contribute to Saudi Arabia's economy.
What was the driver behind choosing Saudi Arabia as the location for the second digital center within Dow's portfolio, and what are the center's main goals?
Saudi Arabia has been at the forefront of investing in its young human resources. Its population not only provides a huge pipeline, but talented students too. As such, we continue to recruit young Saudis to work in our new Digital Marketplace Center located in Thuwal, on digital market solutions such as data visualization, social listening, finding solutions for customers, and addressing today's challenges. The digitization of the entire commercial process has become essential, as more and more customers expect close partnership and collaboration versus just a transactional relationship. Providing innovative solutions, reducing overall costs, and engaging closely with customers is how we, as a materials science leader, can make business easier for our customers and stakeholders in Saudi Arabia.
How does Dow Saudi Arabia's plans to invest in coatings reflect the major opportunities in the local petrochemical sector, and what are other attractive areas for international investors to engage in?
The Downstream industry, especially through value parks, achieves many of the goals set by the Kingdom's Vision 2030. The Government's construction projects which are coming up and Aramco's substantial investments to expand gas capacity and gas infrastructure create an opportunity for those seeking to do business in Saudi Arabia. The coatings plant we are building aligns with the growth of the local and regional construction sector, in a market which has one of the largest consumer, infrastructure and construction base in the region.